Subsidiary: APA Suriname

In October 2024, APA Corporation and its partner TotalEnergies announced a positive final investment decision (FID) for the first oil development offshore Suriname. The project GranMorgu derives its name from a local language and means “new dawn” and “goliath grouper.”

APA entered offshore Suriname in 2012 with the acquisition of Block 53 and expanded its position by acquiring Block 58 in 2015. In December 2019, APA entered into a joint venture with TotalEnergies to explore and develop Block 58.

The GranMorgu project will produce oil from the Krabdagu and Sapakara oil discoveries, where appraisal drilling confirmed gross estimated recoverable resources of more than 750 million barrels. The fields, located in water depths between 100 and 1,000 meters, will be produced through a system of subsea wells connected to a floating production, storage and offloading (FPSO) unit located 150 kilometers off the coast, with an oil production capacity of 220,000 barrels per day. First oil is expected in 2028.

APA holds a 50% working interest in Block 58, which covers about 1.4 million gross acres in water depths ranging from less than 100 meters to more than 2,100 meters.

APA operates Block 53 offshore Suriname with a 45% working interest, partnered with PETRONAS (30%) and TotalEnergies (25%). The company retains about 13,000 net undeveloped acres around the Baja-1 discovery following a 2023 extension. Exploration and evaluation of the area are ongoing.

Visit APA Corporation’s Investors page for the latest quarterly updates and disclosures.